The Bozeman weekly chronicle. (Bozeman, Mont.) 1883-1889, 1887-05-11
Ordinance No.. 80.

An ordinance to provide funds for the
erection of a city building in the city
of Bozeman, Mont.
Be it ordained by the city council OF
the city of Bozeman: We
Sec. l. That for the purpose of pro-
curing money for tie erection of a city
building, to be used as a city hall, fire
engine house, city offices and city prison,
within the city of Bozeman, Mont, a
loan shall be made bv the issuance of
coupon bonds of the said city of Boze-
man to the amount of ten thousand dol
lars; said bonds shall be of the usual
form, one-half to be OF the denomina-
ton of one hundred dollars each, and
one.half to be of the denomination of
five hundred dollars each, and shall
bear the signatures of the city treasurer
and city clerk, and be sealed with the
corporate seal of the city and shall be
redeemable at the option of the city
after five years and become due and
payable ten years from date at the Office
of the said city treasurer, and bear inter-
est at the rate of seven per cent, per
n said interest payable semi annu-
ally, said interest to be paid and said
bonds to be redeemed by the levy Of a
special tax for that purpose, in excess
of and in addition to the three mill tax
authorized by the 24th section of Article
five of the city charter, and the faith
of the city of Bozeman Is hereby solemn
ly pledged for the payment of the inter-
est on said bonds and the principal there
of, when they shall respectively become
due. For the purpose of the payment of
the interest on said bonds and the
principal thereof, when it shall become
due or PAYABLE, there shall be annually
levied at the time the other annual
taxes are levied, a tax of not exceeding
one mill on each dollar valuation of
taxable property within the city Except
for the year 1887, when said tax shall
be levied at the first regular Council
meeting of June, 1877 which tax, when
collected, shall be kept in a seperate
fund, to be denominated the Sinking
fund.-" which shall be reserved and
applied to the payment of the accrued
interest and the redemption of said
bonds.
Sec. 2. The foregoing section shal! be
submitted to the qualified voters of the
city on the 4th Monday in May, 1887,
after due notice of said submission as re-
quired by Sec. 6 of Art. 7 of the city
charter, and as provided by Ordinance
No. s, entitled Concerning City Elec-
TONS"
Sec. 8. If the first section of this or
dinance shall be approved at said cleo
ton, by the qualified voters, 50 as to be
IN force, the city treasurer, when re-
quired by the city council shall issue
said bonds in manner and form as in
said section provided, and the coupons
attached thereto shall be signed by the
said city treasurer and city clerk, and
shall designate the amount, date, num-
Der of the bond, and the installment of
the interest on the bond that they are
intended to pay.
Sec. 4. The city treasurer shall give
notice by advertising in the newspapers
of the city for four successive weeks,
that he will, on the first day of August,
1887, dispose of said bonds to the highest
bidder at not less than their face value,
and he Is hereby authorized to sell said
bonds after approval of a bid or bids
therefor by the city council at their par
value or upwards and shall keep a regis
ter of the anne
Sec. 5. The city treasurershall pay on
the first day of January, 1888, and semi
annually thereafter upon presentation at
his office of the proper coupons, which
shall show the amount due and the NUM-
Der of the bond to which it belongs, the
interest due thereon, and shall report
and present to the city council in his
next ensuing financial report.
SEC. 6. Whenever at any time after
said bonds become r~edeemable, the sum
in said sinking fund shall exceed the sum
| of one hundred dollars over and above &C.
crued interest on the bonds outstanding,
the treasurer shall cause a notice to be
published by four insertions in a news
paper published in the city that he will
within thirty days thereafter redeem
said amount of bonds; spe ,ifying the
lumber thereof, giving preference in the
numerical order of the bonds and if
after the expiration Of said thirty days
the holder or holders shall fail or neglect
to present the same for payment, the in
terest thereon shall cease, and when SO
redeemed, said bonds shall be endorsed
"paid" by said treasurer, who shall re-
port and present the same to the city
council, who shall cause the same to be
collected.
SEC. Z. That for the selling of said
bonds and disbursing money to pay the
interest or principal thereof the city
treasurer shall receive as compensation
one-half of one per cent, and il shall be
considered i. full compensation for all
moneys handled in the above bonded
indebtedness.
SEC. 8. This ordinance shall take eff
feet and be in full force only after the
first section thereof shall have been ap.
proved by the vote of the qualified vot.
ers as provided by Sec. 6, of Art. 7, of the
city charter.
Approved this 9th day of May, 1887:
j.. V. BoaERT, Mayor.
d. C. CAMPBELL, City Clerk.
Ordinance No, "a